Sunday, Jun 28, 2015
Dubai: Alpen Capital launched Alpen Asset Advisors Limited, an independent financial advisory and asset management company incorporated in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA), in early 2014.
The asset management entity serves high-net-worth individuals and institutional clients in the Middle East and south Asia in wealth management. Alpen Asset Advisors offers a broad spectrum of investment opportunities in order to ensure an optimum and cost-effective asset allocation for clients.
“We work on an open architecture model. Clients can book assets in offshore centres of their choice. We work with three or four banks. Each of them have different product offerings and varying cost structures. It gives the possibility of choosing from the best. In this model the client has the choice and they are not stuck with one bank,” said Rohit Walia, executive chairman of Alpen Capital and Alpen Asset Advisors.
The wealth management business is facing growing challenges in both regional and global markets due to ever increasing regulatory pressures and compliance requirements and competition from local banks that have been offering wealth management services.
In the post-financial crisis years a number of global banks and institutions downsized their private banking operations in the region.
“You can’t parachute a bank from Switzerland overnight and make it work. This business needs a lot of networking. A lot of guys don’t realise this,” said Walia.
Alpen does not see local banks as a major competition to its asset management and advisory business. It positions itself as a niche player that offers cost-effective, yield-enhancing solutions to its clients. It specialises in arranging for leverage on equity/debt portfolios to enhance yield.
It also devises and provides Sharia-compliant solutions and yield-enhancing products like internally leveraged funds. Its asset management capabilities include creating segregated fund vehicles tailored to client’s investment needs.
“What differentiates us from standard offerings from bank is that we are able to provide yield-enhancing solutions in the form of attractive funding solutions at very competitive rates,” Walia said.
By Babu Das Augustine Banking Editor
Gulf News 2015. All rights reserved.
